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Oncolytics Biotech Inc. Announces 2008 First Quarter Results
Date:4/30/2008

n 2008 compared to 2007. The increase in these expenses is expected to arise from continued enrollment and continued re-treatments in our existing clinical trials.

Pre-Clinical Trial Expenses and Research Collaborations

2008 2007

$ $

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Research collaboration expenses - 106,281

Pre-clinical trial expenses - -

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Pre-clinical trial expenses and research

collaborations - 106,281

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During the first quarter of 2008, our research collaboration activity focused on renewing specific collaborations, but no costs were incurred compared to $106,281 for the first quarter of 2007. Our research collaboration activity continues to focus on the interaction of the immune system and the reovirus and the use of the reovirus as a co-therapy with existing chemotherapeutics and radiation.

We still expect that our pre-clinical trial expenses and research collaborations in 2008 will remain consistent with 2007.

Other Research and Development Expenses

2008 2007

$ $

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R&D consulting fees 27,408 91,776

R&D salaries and benefits 478,118 372,389

Other R&D expenses
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SOURCE Oncolytics Biotech Inc.
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